As of Tuesday night, there are now over 24,000 confirmed cases and nearly 500 people have died from the virus.
Wednesday morning, a World Health Organization spokesperson said that there is no known effective drug treatment against the virus.
Earlier, a Chinese TV media outlet had reported that a research team in China had found an effective drug to treat people.
"They must be beaten around the head to sell, at least that's what it looks like," said Cramer.
When asked what he was watching in the markets, Cramer explained that he's got his eye on the coronavirus and how the Chinese are able to come in with good news and that helps the market.
Watch the full video above for more.
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